Question

which of the following are characteristics of materials ledger cards? select all that apply. multiple select question. used to record materials purchases used to record materials issued for use in production considered a source document perpetual records updated by the production manager

Answer 1

Materials ledger cards are used to record material purchases and issues for production, are considered perpetual records, and are typically updated by the production manager.

Step-by-step explanation:

Characteristics of materials ledger cards include the following:

• Used to record materials purchases: This indicates that the card is updated whenever materials are bought, reflecting the new inventory levels after the purchase.
• Used to record materials issued for use in production: The card is adjusted to show the decrease in inventory when materials are moved from storage for use in production processes.
• Considered a perpetual record: Materials ledger cards are continuously updated and provide an ongoing record of inventory levels.
• Updated by the production manager: This might vary by company, but typically an individual with oversight of inventory and production, such as a production manager, is responsible for keeping the material ledger card current.